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China’s trade gap with U.S. nears record level

Staff Writer |
China’s trade surplus with the US widened to the second highest total on record, according to Chinese customs data released on Friday.

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The trade gap between the world’s two largest economies has been a frequent cause of complaint for U.S. President Donald Trump, who visited China last month.

The surplus recorded in the first 11 months of this year has already surpassed the total for the whole of 2016, according to the data released from China’s General Administration of Customs.

November’s trade gap rose to $27.9 billion, up from $26.6 billion the previous month, and was just shy of the record $28.1 billion recorded in September.

China’s data was released at time when Washington is stepping up its pressure on Beijing to narrow the trade gap.

The U.S. last week told the World Trade Organisation it opposed giving China market economy status, a move that will make Chinese products more vulnerable in anti-dumping cases.

The U.S. has also launched an anti-dumping investigation into Chinese aluminium – the first time the US has taken such an action against a trading partner since 1991.

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